Billionaire Michael Platt’s Top 5 Stock Picks

4. Alphabet Inc (NASDAQ:GOOGL)

Shares held by BlueCrest Capital Management: 187,545

Value of Position: $19.45 million

BlueCrest also more than doubled its position in Alphabet Inc (NASDAQ:GOOGL) to some 187,500 shares during the first quarter. Alphabet is one of the most popular stocks among hedge funds tracked by us, with 204 funds and 155 holding class A and class C stock, respectively.

Alphabet Inc (NASDAQ:GOOGL) has had a pretty solid year so far, as its stock has surged by nearly 40%. In its first-quarter letter to investors, Diamond Hill Capital highlighted Alphabet among the top contributors to its returns.

“Shares of media and technology giant Alphabet outperformed as the company announced expense discipline while continuing to invest in its core products of Google Search, YouTube and Google Cloud.”

On the other hand, Baron Funds has reduced its position in Alphabet Inc (NASDAQ:GOOGL), mentioning in its “Baron Opportunity Fund” investor letter for the first quarter that they believe that “ChatGPT and/or similar AI-based services present a hard-to-measure risk to Google’s virtual search monopoly.”